IDA84-01ll43L
JHHN:PNL:mdc
07~05~84
07/11/84
RESOLUTION NO. IDA_g84.1
A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF ANAHEIM, MAKING DETERMINATIONS WITH RESPECT
TO THE FINANCING OF EQUIPMENT FOR THE MANUFACTURING OF
DIGITAL PLOTTERS AND AUTHORIZING CERTAIN ACTS IN PREPARATION THEREFOR
RESOLVED by the Industrial Development Authority of Anaheim (the
"Authority"):
WHEREAS, Sanders Association, Inc., a Delaware Corporation
("Applicant"), desires to acquire certain equipment for a digital plotter
manufacturing facility located at 2411 West La Palma Avenue, Anaheim,
California 92801 (the "Equipment"); and
WHEREAS, the Applicant is willing to modify its facility located within
the jurisdiction of the Authority if the Authority will issue its revenue
bonds in an amount not to exceed One Million Dollars ($1,000,0OO) to finance
the Equipment pursuant to the California Industrial Development Finaning Act,
California Government Code Section 91500 et seq. (the "Act"); and
WHEREAS, the Applicant has submitted, and this Board of Directors has
accepted an application requesting financing for the Equipment (the
"Application"); and
WHEREAS, the Authority may not issue bonds to finance the Equipment
until this Board of Directors makes certain determinations with respect to
public benefits and qualifications of the Equipment as required by the Act;
WHEREAS, the Board of Directors has carefully considered and discussed
the information contained in the Application and other information necessary
to make such determinations.
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND ORDERED, as follows:
1. This Board of Directors hereby finds and determines:
(al That the use of the Equipment for the manufacture of digital
plotters is in accord with Section 91503 of the Act;
(bi That use of the Equipment is likely to produce employment
benefits by securing and increasing the number of employees of the
Applicant as more particularly set forth in the Application;
(c) That the issuance of revenue bonds by the Authority in an
amount not exceeding One Million Dollars ($1,000,000) to finance the
Equipment (the "Bonds") is likely to be a substantial factor in the
accrual of each of the public benefits resulting from the use of the
Equipment as proposed in the Application; and
(d) That the proposed financing is otherwise in accord with the
purposes and requirements of the Act.
2. The Authority does therefore intend to approve said Equipment and
issue Bonds in the amount of $1,000,000 in accordance with the following terms
and conditions.
3. The Bonds will be payable solely from the revenues to be received by
the Authority pursuant to a financing agreement to be entered into between the
Authority and the Applicant (the "Agreement"), and shall have a term of not
more than forty years.
4. The Bonds shall be issued subject to the conditions that (i) the
Authority and the Applicant shall have first agreed to mutually acceptable
terms for the Bonds and of the sale and delivery thereof; and mutually
acceptable terms and conditions of the Agreement; (ii) the City Council of the
City of Anaheim (the "City") shall have approved this action of the Authority
and shall have caused the City Clerk of the City to certify such approval to
this Authority; (iii) the California Industrial Development Financing Advisory
Commission shall have approved the Equipment, as described in the Application,
and authorized the issuance of the Bonds therefor; (iv) thirty days from the
date of publication of this approval shall have elapsed; and (v) all other
requisite governmental approvals, including that of the California Debt
Limitation Allocation Committee, shall have been first obtained.
5. The Secretary of the Authority is hereby authorized and directed as
soon as possible to certify the determinations and actions of the Authority,
as set forth herein, to the City Council of the City for its further
consideration, as required under the Act; a copy of this Resolution and a copy
of the Application for financing of the Equipment, as submitted by the
Applicant to be attached to said certification.
6. The Secretary is hereby authorized and directed to cause to be
published one time in a newspaper of general circulation in the City namely,
the Anaheim Bulletin, a notice in substantially the form before this meeting,
naming the Applicant, stating the estimated maximum bond issue, describing the
Equipment in general terms, and stating that the Application for financing has
been approved by the Authority.
2
7. Th~s Resolution shall take effect ~mmed~ately upon its passage.
APPROVED, PASSED and SIGNED this31
day of July , 1984.
Chairman, %~~i pment
Authority of the City of Anaheim
ATTEST-
Secretary
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, Secretary of the Industrial Development Authority of
Anaheim, do hereby certify that the foregoing Resolution No. IDAA84-1 was
passed and adopted at the regular meeting of the Industrial Development
Authority of Anaheim held on the 31st day of July, 1984, by the following vote
of the members thereof:
AYES:
AUTHORITY MEMBERS: Kaywood, Bay, Overholt, Pickler and Roth
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: None
AND FURTHER CERTIFY that the Chairman of the Industrial Development Authority
of Anaheim signed said Resolution on the 31st day of July, 1984.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 31st day of
July, 1984.
SECRETARY OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF ANAHEIM
(SEAn)